Australian company Power Ledger is migrating its Energy Blockchain platform from Ethereum to Solana to improve transaction speed and scalability.
According to a statement from Power Ledger, the platform is now being used globally to streamline renewable energy buying and selling processes.
“The Power Ledger tech stack was originally built on the EcoChain consortium network at PoS consensus in 2016, and then transferred to the modified Proof-of-Authority Ethereum consortium chain in 2017,” said Power Ledger co-founder and CTO John Bulich. Bulich). “It served its purpose in the short term, but the limitations of this solution were always obvious, including low bandwidth.”
Power Ledger co-founder Jemma Green said the Power Ledger needs a blockchain that can support faster transaction processing speeds.
“Our new platform on Solana will be tens of thousands of times faster than on Ethereum, and at the same time more energy efficient. Since we started this project to scale up the use of renewable energy sources, part of our mission is to reduce our own carbon footprint, ”she said.
Bulich said Solana could easily support the expansion of Power Ledger’s suite of services, including P2P trading, energy tracking, and renewable energy certification (REC) applications.
“The main advantage of Solana is scalability, which is achieved through PoH as a synchronization mechanism, providing high throughput of more than 50,000 transactions per second, without the need for second-tier solutions or sharding,” said Bulich. “Because this is a community project called POWR to help change the world with us, we will be providing delegated staking capabilities on our new Powerledger blockchain.”
POWR platform tokens will continue to be used by clients and will remain on the Ethereum network.
Recall that last summer, Power Ledger announced the imminent launch of a blockchain platform for trading renewable energy in Thailand and Southeast Asia. In March, Indian energy company Tata Power DDL and India Smart Grid Forum (ISGF) partnered with Power Ledger to test a blockchain-based platform for selling solar energy.
